From the Editor's Desk

Economic Outlook: Wall Street Has No Clue on Fed Rate Cuts for 2025

Over the last several weeks, nearly every bank and researcher on Wall Street has published their outlook for how the Federal Reserve will adjust interest rates in 2025. Every firm operates with the same data, yet there is nothing resembling a consensus. 

“We’ve got an unusual economic environment coming through,” James Knightley, ING’s chief international economist, told me. Even though the Fed has eased rates by 100 basis points since September, he explained, Treasury yields have spiked and markets haven’t moved as they typically would in a cutting cycle. 


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